Zion Market Research Global Caps and Closure Market, 2016–2024 | страница 3

Caps and Closure Market
addition, plastic closures performance is high as compared to other products; this is
projected to propel the caps and closures market growth in future. Increasing environmental
concerns and recycle of the waste products is the biggest challenge before market. Strict
government regulation over carcinogenicity of plastics may hinder the market growth in the
near future.
Global Caps and Closure Market by Segmentation: Caps and closure market are
segmented on the basis materials as steel, aluminum, tin-plated, plastic, and others. Of
which, plastic is heavily preferred material segment globally. Based on the application, the
global market is categorized as food and beverages, pharmaceuticals, dyes and paint,
cosmetic, and others. The pharmaceutical industry is the dominating application segment in
the global market owing to rising concerns for high-quality products. The beverage is
another end-user industry after pharmaceutical for aesthetically appealing and attractive
packaging.
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Global Caps and Closure Market by Regional Analysis: Asia Pacific is the leading
segment worldwide owing to higher demand for caps and closure market. Other regions
such as China and India are emerging as lucrative markets. Further, growing demand for
canned food and beverages positively impact the caps and closure market in Asia Pacific. In
addition, people with greater financial stability and improved living standards may augment
the demand in future. Furthermore, adoption of e-commerce technology, people willing to
spend on packaged products and convenient foods, and increasing consumption of